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What is the journal entry for Issued cheque in favour of Mr jain and bro and discount allowed by them?
The journal entry for issuing a cheque in favor of Mr. Jain and Bro, along with the discount allowed, would involve two components: recognizing the payment and recording the discount. The entry would be:
Debit: Mr. Jain and Bro (Accounts Payable) - Amount of the cheque
Credit: Bank/Cash - Amount of the cheque
Credit: Discount Allowed - Discount amount
This reflects the reduction in liability due to the payment and the expense incurred for the discount.
What else can I help you with?
What is the journal entry when post dated cheque issued to supplier?
debit accounts payablecredit bank
What is the journal entries when cheque issued to creditors?
debit accounts payablecredit bank account
What is the journal entry for this paid pporter 48650 by cheque the firm also received a 2000.00 cash discount from porter?
debit bank 48650debit cash discount 2000Credit porter 50650
What is the source document for the cash payments journal?
Cheque
What is unpresented cheque?
this is a cheque that was signed or issued but not brought in for cashing or presented to the bank.
What is the journal entry when post dated cheque issued to supplier?
debit accounts payablecredit bank
When a cheque receive from a and dicount allowed at same day then entry will be?
Debit discount allowed and credit purcahses
What is the journal for ganesh issued cheque to us?
The journal entry for a cheque issued to you by Ganesh would typically involve recording the receipt of cash or bank deposit. The entry would be: Debit Cash/Bank Account and Credit Ganesh's Account. This reflects the increase in your cash or bank balance due to the cheque received from Ganesh.
What is the journal entries when cheque issued to creditors?
debit accounts payablecredit bank account
What is the journal entry for this paid pporter 48650 by cheque the firm also received a 2000.00 cash discount from porter?
debit bank 48650debit cash discount 2000Credit porter 50650
What is the source document for the cash payments journal?
Cheque
What is unpresented cheque?
this is a cheque that was signed or issued but not brought in for cashing or presented to the bank.
What is the definition of a cash cheque?
An open cheque or a cash cheque is one that can be taken to the bank that issued the cheque and converted to cash right away. The bank will ask proof of identity from the person cashing it to ensure that they are paying the correct person to whom the cheque was issued to
No date on cheque?
A cheque issued without a date is not a valid instrument. You cannot cash a cheque that doesnt have a date on it.
What is a cheque?
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
What is cheque?
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the cheque (provided the account has sufficient balance) from the bank where the cheque issuer holds his account.
What is the journal entry when cheque issued to creditors is dishonoured?
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
